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A researcher is interested in finding out the factors which determined the yearly spending on family outings last year (Y, measured in dollars). She compiles
A researcher is interested in finding out the factors which determined the yearly spending on family outings last year (Y, measured in dollars). She compiles data on the number of members in a family (X, ). the annual income of the family (X2 ), and the number of times the family went out on an outing in the last year (X;). She collects data from 313 families and estimates the following regression: Y = 146.34 + 1.12X, + 1.98*2 + 2.12Xg. Suppose $1. P2. Pg. denote the population slope coefficients of X1 . X2, and X3, respectively. The researcher wants to check if neither X, nor X2 have a significant effect on Y or at least one of them has a significant effect, keeping X constant. She calculates the value of the F-statistic for the test with the two restrictions (Ho: B1 =0. B2 = 0 vs. H1: B, # 0 and/ or #2 # 0) to be 2.30. The p-value for the test will be (Round your answer to two decimal places.) At the 1% significance level, we will the null hypothesis
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